Incorrect basis form 8606 for the year 2007

Powerguru — Sat, 28 Dec 2019 07:54:29 GMT

For tax year 2007, my contribution to non deductible IRA was $3K and it was first year I ever contributed to a IRA. I have never contributed after that until this year 2019 and doing Roth conversion. I checked my 2007 form 8606 and it says $4K for non deductible contributions and $2k as basis. So my prior years total basis is $6000. Which is incorrect. It should be $3K in form 8606 for 2007.

i never took any distribution.

how do I correct this?

thanks,

powerguru

topic Incorrect basis form 8606 for the year 2007 in Retirement tax questions

Incorrect basis form 8606 for the year 2007

Re: Incorrect basis form 8606 for the year 2007